Fitch affirms Westamerica

Fitch Ratings said it affirmed the A long-term issuer default ratings and F1 short-term issuer default ratings of Westamerica Bancorp. and Westamerica Bank as well as the bank's A+ long-term deposits and F1 short-term deposits.

The outlook remains stable.

The agency said the affirmation reflects the company's consistently robust earnings performance, risk-adverse credit culture, low-cost core deposit funding, tight expense controls and sound capital levels. Westamerica has weathered the recession better than many banking companies, Fitch said, and its focus on commercial business loans and its very limited exposure to residential construction loans has helped insulate the company from the most problematic loan categories.

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